Frans Hijkoop Sells 56,250 Shares of MetLife Inc. (MET) Stock
MetLife Inc. (NYSE:MET) EVP Frans Hijkoop sold 56,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $51.48, for a total transaction of $2,895,750.00. Following the transaction, the executive vice president now owns 111,813 shares of the company’s stock, valued at $5,756,133.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of MetLife Inc. (NYSE:MET) opened at 53.69 on Monday. The company has a 50-day moving average price of $46.83 and a 200-day moving average price of $43.75. The firm has a market capitalization of $59.01 billion, a P/E ratio of 16.49 and a beta of 1.66. MetLife Inc. has a 12-month low of $35.00 and a 12-month high of $54.98.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.04. MetLife had a net margin of 5.58% and a return on equity of 6.99%. The firm earned $17.70 billion during the quarter, compared to the consensus estimate of $17.03 billion. During the same period last year, the firm earned $0.62 EPS. The business’s quarterly revenue was down 99.9% compared to the same quarter last year. Equities analysts predict that MetLife Inc. will post $4.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Monday, November 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.98%. The ex-dividend date is Thursday, November 3rd. MetLife’s payout ratio is 49.23%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dodge & Cox increased its position in shares of MetLife by 26.4% in the second quarter. Dodge & Cox now owns 39,133,326 shares of the company’s stock valued at $1,558,680,000 after buying an additional 8,185,247 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of MetLife by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 38,433,688 shares of the company’s stock valued at $1,530,815,000 after buying an additional 3,530,969 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of MetLife during the second quarter valued at approximately $123,072,000. Bank of Montreal Can purchased a new position in shares of MetLife during the second quarter valued at approximately $114,322,000. Finally, Svenska Handelsbanken AB publ increased its position in shares of MetLife by 83.7% in the third quarter. Svenska Handelsbanken AB publ now owns 4,545,148 shares of the company’s stock valued at $201,941,000 after buying an additional 2,070,652 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on MET shares. FBR & Co boosted their price objective on shares of MetLife from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 29th. Credit Suisse Group AG started coverage on shares of MetLife in a research report on Friday, October 7th. They set a “neutral” rating and a $51.00 price objective for the company. Wells Fargo & Co. restated an “outperform” rating on shares of MetLife in a research report on Friday, September 23rd. Zacks Investment Research downgraded shares of MetLife from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Finally, TheStreet downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $51.35.
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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